en.Wedoany.com Reported - Daewoo E&C announced on the 16th that the construction of Phase 3 of the Ulsan North Port LNG and Petroleum Products Terminal has been completed, including subsequent procedures such as initial operational stabilization and handover to the client.

The project was commissioned by Korea Energy Terminal, a joint venture between Korea National Oil Corporation (KNOC) and SK Gas, with Daewoo E&C serving as the main contractor. The scope of work includes the construction of a 215,000 kL (kiloliter) liquefied natural gas (LNG) storage tank, a 180-ton-per-hour regasification and send-out facility, and ancillary facilities at Ulsan North Port.

The contract amount is approximately KRW 223.5 billion, with construction spanning 45 months from July 2022 to April this year.

Daewoo E&C stated that the terminal can store LNG unloaded from ships in the storage tank, regasify it, and supply it in gaseous form to power plants and industrial enterprises, thereby expanding the stable natural gas supply base.

Daewoo E&C has a track record of constructing 25 LNG storage tanks in South Korea and has also executed LNG projects in Nigeria and Mozambique, accumulating construction competitiveness in the LNG infrastructure sector both domestically and internationally.

A Daewoo E&C official stated that based on its accumulated experience in LNG infrastructure construction at home and abroad, the company will continue to enhance its order competitiveness in the domestic and overseas LNG terminal and energy infrastructure markets.